I bought my boat from a reputable dealer and later found out it was totaled when it was one year old. The dealer and I are unable to reach a settlement. Will my boat be worth much less now that I'll have to disclose it as salvaged if and when I sell it?

Definately

I figured also. I"m investigating the cause of salvage and have found out interesting facts so far. It was stated when I bought that it was a one owner, freshwater boat. I found two owners so far and it was sold in Destin , Fl. IDK but they have a lot of saltwater down there.

I wouldn't buy a salvaged boat.

A certain Dealer in Michigan sold a Wellcraft Portofino as a new boat. It had sunk before ever being sold. The customer found out about it, and pretty much had a free boat after the lawyers got done with the Marina.

Wow that's crazy. I bought "as is" but I'm currently looking at my options.

AS is kind of says it all. And dont know what you can do. The proof of burden if you tried to do anything would be if the dealer knew or not. But salvage doesnt really mean the boat is worth less, the key is to find a buyer who would want it, which in turn could lower the value. But if the boat is nice and you got a good deal than go for it

Does they State you bought the boat in Title boats?

Illinois. I don't think so. I am registering with Coast Guard. The owner who traded it in had a clean title. I guess it was "washed" somewhere along the line.

Was it financed?
If so banks do not loan on salvaged titles and they will kick the deal real quick! Even if it was washed let then in on what you know and they will take matters into their own hands, trust me. Because they don't want it any more than you do and probably less.

Also from a car dealer perspective "AS IS" does not mean salvage is ok and would have to be disclosed prior to sale or recourse could be sought.

I am in IL as well and I do believe they are titled, we did title work on both of ours, and the bank has it right now.